Firm Management
2013 Review of Deltek Maconomy Public Accounting Solution
May. 27, 2013
Deltek Maconomy Public Accounting Solution
800-456-2009
www.deltek.com/accounting
From the June 2013 review of practice management systems.
Best Fit: Accounting firms with 75 or more employees looking to contain all financial, client and engagement management under one solution.
Strengths
- Flexible user interface
- Role-based to help ensure data integrity
Potential Limitations
- Requires a significant amount of planning for front-end setup
The Deltek Maconomy Public Accounting Solution is a system designed specifically for accounting professionals and provides tools to better manage clients, engagements, and financial data. Deltek Maconomy offers firms in-depth analysis of information throughout the system as well as a highly customized user interface. The system is a good fit for firms examining current profitability and employee time.
BASIC SYSTEM FUNCTIONS: 5 Stars
The Deltek Maconomy interface may be customized to be as simple or complex as required. The interface is generally intuitive with general tasks listed in a sliding menu on the left part of the screen. The remainder of the screen is dedicated to the current client, task or engagement information. Multiple levels of detail are available at any time and users have the option to drill down to detail through a sliding menu located at the bottom of the screen. All menu options and detail information views can be controlled through user access rights.
Within each data entry screen, users have the option to customize the view and information columns displayed to them. This provides a high level of customization to the end-user and allows for each user to tailor the software to their individual needs. Each data field is searchable and as users type, the information available to them is narrowed down. Based on access rights, users are prevented from accessing or posting time to clients or engagement they have not yet been assigned.
Deltek Maconomy maintains all relationships between the firm and client to show the assigned partner, and involved staff and services provided. A client level dashboard shows all time and projects completed in the past as well as current or proposed projects. Simple document storage is also provided to house documents specific to the client or engagement.
TIME MANAGEMENT CAPABILITIES: 4.75 Stars
Deltek Maconomy provides a quick, intuitive time entry process. A calendar and dashboard are displayed to provide users feedback on their current time entry. Users have the option to establish favorites based on client, task or engagement that will prefill all appropriate information on the timesheet. Upon applying one of these favorites, users simply enter the amount of time worked. Users also have the option to provide an approximation of how much of a project has been completed. Managers may then review the status of this to ensure all target dates and hours will be met. Once time and expenses are posted, managers have the ability to approve the entries and then all time and expense data is immediately available for invoicing.
Engagement projects can be controlled through templates or generated from previous engagements. Each engagement may be as detailed or summarized as required and may be automatically generated based on due date.
INVOICING FUNCTIONS: 4.75 Stars
Deltek Maconomy provides partners the ability to create invoices based on engagement progress, time and expense, fixed fee or client budgets. Billing options also include the ability for time to be reallocated to other tasks on a user by user basis. A complete billing history is maintained to provide information for future needs and to compare to previous billings. Deltek Maconomy allows billing adjustments to be done on a staff and task basis or partners may allow the system to write-up or write-down time automatically through predetermined rules. Invoicing may be simple or complex, depending on firm requirements. Invoices generated within Deltek Maconomy may be exported to PDF for paperless billing workflows, or printed from PDF to paper, for paper-based billing workflows.
Budgeting capabilities are provided to manage nearly any project. Default templates are provided with the solution, but users may generate their own from scratch or modify templates as necessary. Budget information may be used for not only billing purposes but maintaining workload balances in each department or staff person. Price profiles may also be established to set standard billing rates associated with clients or by level of service provided by each user.
MANAGEMENT FEATURES: 5 Stars
Deltek Maconomy provides dashboard management features for engagement management. This dashboard provides a brief overview of any current engagement and includes budget, profitability, invoicing and other outstanding items related to the engagement. From this dashboard, users may drill down further into the details through the tab driven interface.
Deltek Maconomy is a role-based system and allows for tight restrictions to be placed on each user. This also allows for groups to be setup with predetermined information access rights. From simple data entry to account executives and project managers, each level may be granularly controlled to help ensure data integrity.
INTEGRATION & DATA MANAGEMENT: 4.25 Stars
Deltek Maconomy is designed as a center point for an organization’s client, financial and engagement management. Designed as an enterprise resource planning solution, multiple modules are available to provide end-users with the most in-depth information and each module fully vertically integrates.
Other integration points are also built into Deltek Maconomy to provide users further data analysis. One click export to Microsoft Excel is present in nearly all data entry screens. This allows users to export time data or project data to create ad hoc reports. All reports and invoices generated within Deltek Maconomy may also be exported to PDF for immediate printing or emailing.
Currently, Deltek Maconomy is designed and marketed as a server based solution. Deltek is in the process of creating Deltek Maconomy as a SaaS solution for customers. No timeline has been set for a full conversion and users will still be provided a server based solution in the interim.
HELP/SUPPORT: 4.75 Stars
Deltek Maconomy provides traditional help and support options through the in-program help menu. Other support options are provided through support contract service options provided through Deltek. Each service contract provides including phone, email and knowledgebase support as well as all software updates and enhancements. All support is designed for CPAs and Deltek’s support staff is fully knowledgeable about CPA-centric issues.
Additional training is available through Deltek University. Deltek University provides users with online, classroom and on-site training options. Users may choose from a variety of topics to further enhance their use and understanding of Deltek Maconomy. Pricing for Deltek University is separate and is dependent upon user needs.
PRICING & SUMMARY
Deltek Maconomy is a solution designed for professional service organizations looking to gain more control over timekeeping, project and client management and back office financial information. Deltek Maconomy provides users an in-depth view of the organization as well as a highly per-user customized interface. Pricing is dependent on users with a minimum user base of around 75. Typical pricing for a 75-100 user organization requires a one-time license fee around $1,000 per user. Annual renewal rates are offered at a percentage of the original purchase price.